| The global mirror coatings
market is forecast to reach USD 1,208.6 Million by 2026, according to a
new report by Reports and Data. The market is rising rapidly as the demand for
mirrors or mirror-like products are increasing year on year due to rise in
temperature in hot and temperate countries and economic enhancement in the
developing countries has helped the common people to spend a premium amount on
the luxury home decorative furniture which mostly are incorporated with mirror
coatings. The proliferation in the centralized air-conditioned buildings
reduced keeping windows and increased the practice of using mirror coating
glasses for several convenience and reasonable purposes.
The Asia Pacific region is
forecasted to generate the highest revenue of USD 541.5 Million in the year
2026, owing to its extensive market penetration coupled with the rise in the
customer base of automotive and extensive growth in building and construction
industry in the developing economies such as India and Thailand.
Further key findings from
the report suggest
- Automotive vehicles widely employ mirror or
reflecting glasses to get rid of the extreme sunny daylights. Some portions
of the windshields, sunroofs, and windows are made using the reflecting or
mirror glasses. The market has been hugely driven by automotive
applications. The segment had a market share of 23.3% in 2018 and will be
growing with a CAGR of 8.1% during the forecast period.
- Home Décor instruments incorporate mirrors and
mirror-like reflecting furniture or accessories, which adds to the overall
market revenue. The CAGR for this segment is 7.2% during the forecast
period, and the revenue in 2018 was USD 112.1 Million for this segment.
- Consumer Goods include numerous products which
employ mirrors or mirror-like materials and increase the market for mirror
coatings. Eyewear, highly reflecting mirror-like costumes, and
camera-lenses, to name a few of the consumer goods. Consumer goods had a
market share of 14.3% in 2018 and are expected to grow with a CAGR of 7.0%
in 2019-2026.
- Polyurethane resins have been considered in many
applications as the benchmark for being high-performance coatings. The
attributes that make this coating system so attractive are high-gloss and
crystal clear which finishes with excellent weathering performance. These
coatings are capable of reflecting more than 90% of the light and doesn't
let go most of the remaining amount of light inside the glass.
Polyurethane is forecasted to have a market share of 44.6% by 2026.
- Chromium will gain a market share of 15.3% by 2026
and will grow at a CAGR of 5.8% during 2019-2026. Chromium is mostly
employed in the rearview mirrors of vehicles.
- APAC, owing to the highest growth rate in
automotive and building & construction industry coupled with numerous
temperate regions, is helping the market grow with the fastest CAGR of
9.8% throughout the forecast period. China and India are some of the
active contributors in this region.
- North America is accounted to gain 20.5% of market
possession by 2026 with a CAGR of 8.1% in the forecast period.
- Europe is forecasted to witness significant growth
in the overall market, with 21.7% of market possession by 2026 and CAGR of
6.5% during the forecast period.
- Key participants include Fenzi, Ferro,
Diamond-Fusion, Mader, Guardian Glass, Tianjin Xinlihua Color Materials
Co. Ltd., Casix, The Sherwin-Williams, Grincoat, Vitro SAB de CV.
Read full Report Description @ https://www.reportsanddata.com/report-detail/mirror-coatings-market
For the purpose of this report,
Reports and Data have segmented the global Mirror Coatings market on the basis
of the base material, type of resins, technology, applications, and region:
Base Material Outlook
(Revenue, USD Million; 2016-2026)
- Silver
- Aluminum
- Gold
- Copper
- Chromium
- Others
Type of Resins Outlook
(Revenue, USD Million; 2016-2026)
- Polyurethane
- Epoxy
- Acrylic
- Others
Technology Outlook (Revenue,
USD Million; 2016-2026)
- Water-Based Coatings
- Solvent-Based Coatings
- Nano-Coatings
Applications Outlook (Revenue,
USD Million; 2016-2026)
- Automotive
- Building & Construction
- Home Décor
- Consumer Goods
- Concentrating Solar Power (CSV) Panels
- Others
Regional Outlook (Revenue, USD
Million; 2016-2026)
- North America
- Europe
- Asia Pacific
- MEA
- Latin America
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